KUALA LUMPUR: KEB Bhd has set its initial public offering (IPO) price at 35 sen per share, aiming to raise RM48.49 million from its proposed listing on the ACE Market of Bursa Malaysia.
The property developer said the IPO involves the issuance of 138.54 million new shares.
Of the total proceeds, RM19 million will be allocated for landbank acquisition, RM14.89 million for working capital to support project development and RM8.5 million for repayment of bank borrowings.
The remaining RM6.1 million will be used for listing expenses.
